Businesses in Florida will save millions of dollars on Workers compensation insurance under cuts approved by the the National Council on Compensation Insurance.
The council has approved a 4.9 percent decrease in proposed workers’ compensation rates beginning January the 1st.
This applies to both new and renewal workers’ compensation insurance policies
The Florida Office of Insurance Regulation approved the cuts last week.
This is the 5th consecutive year of lower worker compensation rates in Florida.
Safer workplaces, innovative techniques, and improved risk management practices have resulted in the continued decline in workers compensation claims, ultimately benefitting Florida businesses
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